July 13, 2023 8:27 PM

Oil prices climb after U.S. inflation sparks hopes that Fed may have fewer interest rate hikes

Oil prices climbed today after U.S. inflation and economic data sparked hopes that the Federal Reserve may have fewer interest rate hikes in store and Chinese trade figures showed monthly oil imports were the second-highest on record in June.   In intra-day trade, Brent crude was trading at 80 dollars and 29 cents a barrel. West Texas Intermediate crude price was at 75 dollars and 83 cents per barrel....